Disney has agreed to pay Comcast an additional $438.7 million for its 33% stake in Hulu, concluding a multi-year appraisal process.

Disney in 2023 announced plans to acquire Comcast’s share in the streaming platform and paid $8.6 billion, based on Hulu’s $27.5 billion minimum valuation set by both companies in 2019.

Disney acquired a two-thirds stake in Hulu through its purchase of Fox Corp.’s entertainment assets.

Following the initial payment, Disney and Comcast then entered an appraisal process, initially expected to finish in 2024.

Disney stated that its appraiser valued Hulu below the agreed minimum, while Comcast’s NBCUniversal appraiser arrived at a figure well above it. A third, independent appraiser settled the dispute, concluding the valuation process on Monday, according to an SEC filing.

“We are pleased this is finally resolved. We have had a productive partnership with NBCUniversal, and we wish them the best of luck,” said Disney CEO Bob Iger in a statement.

Iger said the completed acquisition clears the way for “a deeper and more seamless integration” of Hulu and Disney+ content, along with the upcoming launch of Disney’s direct-to-consumer ESPN streaming app.

Comcast’s NBCUniversal has been focused on expanding its own streaming platform, Peacock, since its launch in 2020.

“Hulu was a great start for us in streaming that generated nearly $10 billion in proceeds for Comcast and created an important audience for NBCUniversal’s world-class content,” a Comcast spokesperson said in a statement Monday. “We wish Disney well with Hulu and appreciate the cooperative way our teams managed the partnership.”

The final transaction is expected to close on or before July 24, according to the companies.